Generally in the conventional cold nut former, a plurality of dies are allocated on the machine frame in a series, while in front of these dies, an equal number of punches are provided on the end face of a ram, and are set up in a face to face position. The ram is able to slide back and forth. In the above mentioned mechanism, the cut off stock for making the nut is transferred to a predetermined position in front of the die and then is pressed by a punch when the ram moves in a forward direction. On the other hand, when the ram moves in a backward direction, the blank will be transferred in regular sequence to a position in front of the next die for achieving the formation of the nut or other similar products. More precisely, the transferring device for blanks which is in general use is provided with a pair of clamping arms at the lower end of a vertical axis for clamping the blank. These clamping arms make a linear back and forth motion in a left-right direction, thus transferring the blank from a position in front of a die to a position in front of the next die for achieving successive operation.
As mentioned above, when the conventional nut former is used, a cut-off stock feeding device of a very complicated structure will in general be needed. Furthermore, with the above mentioned structure in the machine, the clamping arm of the blank feeding device can only start work when the ram with the punch means provided starts to move back, and the clamping on arm which protrudes from one end of the lower portion of the vertical shaft, makes a left to right motion of 180.degree. with its stroke equal to one pitch of two adjacent dies, resulting in a long distance of transportation. Factors such as these above-mentioned are all hindrances to economical high-speed production of such products.